China has spent five years preparing to launch the digital yuan, which might happen in a matter of months. But bankers and financial industry professionals surveyed at an industry conference in October still believe the United States will be the first to create a global digital currency.
Like 1960s campus radicals, Bitcoin maximalists are enthusiastically praising the wisdom of a leader of Communist China. That’s because President Xi Jinping called for his country to “take the leading position in the emerging field of blockchain.”
Chinese officials and investors have been making a full court press on blockchain and cryptocurrency development ever since President Xi Jinping’s comments on October 25 that China must “take the leading position in the emerging field of blockchain.”
Did the CEO of Binance, one of the largest cryptocurrency exchanges, threaten cryptocurrency media site The Block over a trio of tweets detailing how banned peer-to-peer cryptocurrency trading really happens in China?